Trevilis is a DBSS project that just TOP recently. And the only one in Clementi so far.
There were a number of key attractions that made this a very good buy.
Unfortunately, at this point of time, this was not the happy story most Trevilis home owners had expected. They faced a number of poor quality finishes issues.
This serves as a reminder to me that for any property projects, a good and reputable developer is very important.
We are more fortunate when it comes to buying properties in Singapore because of very strong government regulations. This is good because it gives us a piece of mind. But also bad because it reduces our alertness when it comes to choosing which property to invest, especially overseas ones. There is a general tendency for most Singaporeans to equate buying properties overseas as the same in Singapore. But the true story is, things are different.
For one, land is a scarcity in Singapore so when we buy property or more specifically, landed property in Singapore, the downside is limited in a way because the supply is limited. Therefore, the chance of the value of the (landed) property being decreased is low even if there is no demand.
But the same cannot be said for other countries where they have the luxury of owning big pieces of land.
Our culture and governance etc are also different. In Singapore, we are very structured and compliant.
One of the more common problem when it comes to a developer developing a property is a default case, where they cannot complete or finish building the building. An unfinished building means little use as no one can stay. So whether the buyer bought it for home use or investment use, the returns are zero if the building cannot be completed.
A developer may default due to financial reasons. But for whatever reasons, Singapore government may step in to help. But property rules differ overseas. And because of this, it is even more important to check that the developer is a good and reputable developer, with a strong financial background.
In Singapore, property buyers usually don’t face the issue of uncompleted projects, some delay maybe, but not like other countries where the projects were just halted and left it as there.
But although the buildings were completed but it’s still terrible to find your house completed in a poor state, isn’t it? What Singapore property buyers may face is the next common problem – poor quality finish. Although this doesn’t happen often but it does happen.
The above points is just to reiterate the importance of having a good and reputable developer when we buy our properties.
For Trevilis, it would be a relief off many people’s mind when the issues are finally resolved. Otherwise at this current point of time, it will inevitably cast a shadow whether the other projects by the same developer will suffer the same fate.
If you are looking for a home in Singapore, there’s no need to be alarmed by this incident. There are still good projects around. And if you would like someone to help you with your property purchase, feel free to email me.
